California ranked 50th in the U.S. for its business environment for the eighth straight year, according to a survey of 650 chief executive officers nationwide released May 2 by Chief Executive magazine.
The executives were asked to rate states based on tax and regulation, quality of workforce and living environment.
The magazine’s report on California’s results in the survey were scathing.
“Once the most attractive business environment, the Golden State appears to slip deeper into the ninth circle of business hell,” wrote report author J.P. Donlon. “The economy, which used to outperform the rest of the country, now substantially underperforms.”
Last year, 254 companies moved some or all their work and jobs out of state, up 26 percent from 2010 and five times as many as in 2009, according to Spectrum Location Solutions figures cited in the report.
While survey respondents gave California four out of five stars for the living environment, they rated the state in the mid range for workforce quality and one out of five stars for taxes and regulation.
Among the dozens of chief executive comments about California listed were some that zeroed in on perceived problems.
“They are doing everything possible to drive a business out of their state,” wrote one respondent. “If the environment in CA was not so good, they would have lost half of their population.”
“California regulations, taxes and costs will leave only tech, life sciences and entertainment as viable,” another wrote. “If you aren’t an elitist no room here for the middle or working classes.”
The Business Journal encourages local businesses to share their experiences with environment for commerce at the local and state levels.
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